Signaturefd LLC Sells 2,006 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Signaturefd LLC trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 19.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,440 shares of the semiconductor company’s stock after selling 2,006 shares during the quarter. Signaturefd LLC’s holdings in Microchip Technology were worth $484,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MCHP. Van ECK Associates Corp grew its holdings in Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after acquiring an additional 3,131,807 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after purchasing an additional 2,829,082 shares during the period. Madison Investment Advisors LLC acquired a new position in shares of Microchip Technology in the 4th quarter worth approximately $78,661,000. Franklin Resources Inc. lifted its position in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after purchasing an additional 776,408 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock worth $220,957,000 after purchasing an additional 460,697 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Down 6.5 %

Microchip Technology stock opened at $51.00 on Friday. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The firm has a market capitalization of $27.43 billion, a price-to-earnings ratio of 91.07 and a beta of 1.52. The firm’s fifty day moving average price is $56.24 and its two-hundred day moving average price is $65.03. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.57%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Morgan Stanley dropped their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. KeyCorp dropped their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, B. Riley reissued a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $74.37.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.